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How Antonio Villaraigosa staked his political capital on convincing voters to tax themselves in a recession — and won [Los Angeles Times (CA)]

Royal Bank Of Canada (RY) 
Last royal bank of canada earnings: 2/21 06:00 am Check Earnings Report
US:NYSE Investor Relations: rbc.com/investorrelations/index.html
How Antonio Villaraigosa staked his political capital on convincing voters to tax themselves in a recession — and won "Dream with me," Antonio Villaraigosa urged in his 2005 inaugural address as mayor of Los Angeles, sketching out a vision of a comprehensive public transportation system that could redefine his car-choked city. But three years later, his most dogged effort to achieve that vision threatened to be more delusion than dream. A brewing economic slowdown tipped into a full-blown crisis weeks before voters were to decide on his plan for a countywide measure that would increase the sales tax to pay for transportation projects. Chief among them, the measure would help advance — but not fully fund — a subway heading west from downtown along the heavily trafficked Wilshire corridor — branded by Villaraigosa as the "subway to the sea." "People were afraid they would go to the bank to try to withdraw money and there wouldn't be any money there," said Zev Yaroslavsky, a former Los A Show less Read more
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